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Economic Dialogue with Cyprus - ECON on 3 June 2021

Analiză aprofundată 31-05-2021

This note presents selected information on the current status of the EU economic governance procedures and related relevant information in view of an Economic Dialogue with Constantinos Petrides, Cyprus Finance Minister, in the ECON committee of the European Parliament. The invitation for a dialogue is in accordance with the EU economic governance framework. The last exchange of views with the Cypriot authorities took place on 25 January 2016.

The purpose of the present study is to provide a tool for understanding the phenomenon of harmful tax competition within the EU, as well as making an in-depth assessment and proposing solutions. It contains policy recommendations for future EU standards. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the subcommittee on Tax Matters (FISC).

The digitalisation of the economy opens the door to new cross-border economic activities that makes it possible to under-report income and under-pay tax. It also presents new challenges for tax administrations, already faced with limited access to information at the national level. Hence, in July 2020 the Commission proposed to amend the provisions on information exchange and administrative cooperation and to include the automatic exchange of data on information declared by digital platform operators ...

This briefing analyses the strengths and weaknesses of the IA accompanying the Commission proposal on better cooperation in the area of taxation of digital platform sellers’ revenues. The IA’s strengths are an overall good problem definition, solid research quality and full transparency regarding the scarcity of relevant data, as well as regarding the methods and assumptions underlying the analysis. Weaknesses concern the objectives of the initiative, which could have been more specific, and the ...

EU listing of tax havens

Briefing 21-10-2019

Broadly speaking, 'tax havens' provide taxpayers, both legal and natural persons, with opportunities for tax evasion or avoidance, while their secrecy and opacity also serves to disguise the origins of the proceeds of illegal and criminal activities. One might ask why establishing a list of tax havens or high-risk countries is useful. Drawing up such lists began with action to end harmful tax practices arising from the discrepancy between the global reach of financial flows and the geographically ...

Action to fight corporate tax avoidance has been deemed necessary in the OECD forum and has received further impetus through the G20/OECD Base erosion and profit shifting action plan (known as BEPS). The 2015 BEPS action plan has 15 actions, covering elements used in corporate tax-avoidance practices and aggressive tax-planning schemes. The implementation of the BEPS action plan was designed to be flexible, as a consequence of its adoption by consensus. Recommendations made in BEPS reports range ...

Tax policy, and the fight against tax fraud, have gained particular exposure over the past five years as a result of the light shed by repeated tax leaks and the related journalistic investigations. This has added to the increasing lack of acceptance of damaging tax practices, especially since the recession and the resulting budget constraints. The fight against tax fraud aims at recovering revenue not paid to the public authorities. It also aims at ensuring that fraudsters do not have an advantage ...

Tax transparency has gained particular importance as a tool in the fight against tax avoidance and tax evasion, particularly in the field of corporate income tax and aggressive tax planning. Cooperation between tax authorities aims at allowing them to obtain information covering the global business of multinational enterprises (MNEs), and progress has already been made in this area. A further step in tax transparency would be to broaden it by providing publicly available information relating to tax ...

TAX3 Special Committee report

Pe scurt 20-03-2019

The European Parliament's Special Committee on financial crimes, tax evasion and tax avoidance (TAX3) was set up in March 2018 to build on and complement the work carried out in the EP since 2014. Its report, submitted for debate during the European Parliament's March II plenary session, takes stock of the continued topicality of these issues and of the progress made, as well as the remaining work ahead to fight financial crimes, tax evasion and tax avoidance. It also paves the way for further monitoring ...

In this edition of the newsletter, Jean Arthuis and Ingeborg Grässle, Chairs of the BUDG and the CONT committees respectively, present the priorities of both committees and describe several examples of good joint efforts made in the course of the legislative term. Other issues dealt with in this edition include performance based budgeting, sustainable development, taxation, agriculture and cooperation with the Council. Forthcoming publications and events are also announced.